EEM: Hits 50%
I've been waiting patiently for EEM to rally so I could short some more at the 50% retracement. Well we finally hit that level today. EEM opened and then rallied to my level and filled me. I got filled pretty much near the high of the day. This is by far one of my favorite techniques and I frequently catch almost the exact high of the day when shorting. Let's see if EEM can break down now from this area.
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3 comments:
Looks like it traded there for about a half an hour on some of the heaviest volume of the day. Makes me wonder whether some of the hedgehog crowd is piggy-backing on your trading ideas. Not as unlikely as you might imagine . . .
You never know.. We'll see what happens.
Is this stock now dead. Or do you have a stop on it. Short covering rally?
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